The U.S. age pyramid will slowly morph into a rectangle by 2060 as millennials are growing up. The Pew Research Center recently published new data that states that, “By 2060, the U.S. will have almost as many individuals above age 85 as below age 5”. With the millennial generation, those born after 1980, labeled as “young people” find themselves assimilating into work culture and parenthood; we find generational differences that point out our evidence of youth.
It’s been disputed that the millennial generation are the most laziest and delusional generation of the century, but we are also the most creative and ambitious. Millennials, age 20-30 carry the same optimism the Gen Xers once had at the same age about their future, but now are also taking different paths to get to the finish line.
Owing to the peculiarities of time and place, alongside with our current age, millennials are taking the plus and minuses of the economy and creating an identity separate from the traditional norms. Whether it be fashion, diet trends, music, or business culture, the millennials are making conscientious decisions to do something different that will further benefit ourselves and the world we live in.
Millennials aren’t that different from the baby boomers either, they’re just younger, and with that youth carries optimism about the future with a bit of generational quirkiness. It’s near impossible to fully grasp the various forces that drive differences between age groups at a given time and as Pew suggests, “we don’t always have sufficient data for robust inter-generational comparisons”. Millennials are after all, the product of baby boomers, but differences are evident.
One stirring distinction according to the National Institutes of Health states, Narcissistic personality disorder is nearly three times as high for people in their 20’s as for the generation that’s now 65 or older”. Young people tend to be more narcissistic, but usually get over it when they get older. However, narcissism may be working in the millennials favor as they are the “Nation’s most stubborn economic optimists”. They are upbeat about their own economic futures and are recognized as the startup generation, creating revenue from scratch.
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As market trends change, so are the way business is done and millennials are the first generation to ride the inevitable change in the social and economic wave.